SAN ANTONIO-SBC Communications Inc. reported increased revenues for the fourth quarter and year ended Dec. 31, which included the completion of its acquisition of Ameritech Corp. in December.
For the fourth quarter, the company recorded revenues of $12.9 billion, a 6-percent increase from the $45.3 billion reported for fourth-quarter 1998. For the year, SBC reported revenues of $49.5 billion, a 7.1-percent increase from the $46.2 billion recorded for the year prior.
SBC said its net earnings for the fourth quarter totaled $3.1 billion, or 90 cents per share, compared with $1.5 billion, or 44 cents per share, for fourth-quarter 1998.
The company’s annual net earnings were $8.2 billion, or $2.36 per share, compared with $7.7 billion, or $2.23 per share, recorded the previous year.
SBC said its domestic wireless operations performed well, with 458,000 new subscribers and total subscriber revenues in the fourth quarter increasing 25.2 percent from the same period a year ago.
The company continued its expansion by acquiring Radiofone, which serves 200,000 wireless customers in Louisiana and Michigan, in November. SBC expects to have the acquisition completed by the second quarter of this year.
Looking ahead, the company said it does not have plans to acquire any more companies in the near future, but is always open to further acquisitions.
